Credit Reports may not be an important factor

[Frank S.]

Here is something interesting.  Perhaps, relying on the credit reports may not be a great tool after all. 

time.com/4288093/john-oliver-credit-reports-last-week-tonight/?xid=time_socialflow_facebook

John Oliver makes a few good points:

52% of all debt on credit reports is from medical expenses

one in four credit reports has an error 

one in 20 has a significant error

The companies are aware of this issue, it's a recurrent problem ( circa 90's)

10,000,000 people may be affected by this issue

Once, I found an error with my report. This was an easy solution and it was corrected promptly. I have no issues with the agencies performance, but the point raised by Mr. Oliver is well taken.   I will not look at credit reports with the same eyes after this. 

[Chris Herbert]

That is interesting. On the flip side there is a very, very strong correlation between applicants with credit scores in the 700's and great tenants (not only those that pay on time but also take great care of the property). I've screened hundreds (thousands?) of applicants and found that you can almost stop the screening process at the credit check if they have over a 700. As a disclaimer though, that is just an observation, you should never just run a credit check on your applicants.